$10,000-worth sold on day one

Not only has the company announced a month-long $15,000 hackathon to encourage devs to build dapps using Cheeze Wizards NFTs but it’s just launched an auction process for a new type of Cheeze Wizard — Mold Magicians.

Dapper Labs’ labels this class “Limited-Edition” wizards, which will play a “special role in the Cheeze Wizards world, in addition to unique backstories, appearances, and gear.”

Ultra rare, available now

These limited-edition wizards will be ultra rare, and only available through specials auction. They’re broadly equivalent to Gen 0 CryptoKitties.

Dapper Labs hasn’t formally announced how many will be available for sale, but we think it’s less than 200. Around 50 Mold Magicians appear to have been generated. Remember, there were 50,000 Gen 0 CryptoKitties.

And that rarity is driving sales. The first day of the auction generated 48 ETH ($10,000).

To-date, the most expensive Mold Magician sold for 6 ETH ($1,200), with the cheapest 2 ETH ($500).

Indeed, there appears to have a significant drop in the price of Mold Magicians over time, although it’s not clear if this is because the rarity of the magicians is dropping, Dapper Labs is dropping the auction starting price, or because buyers are coming to price consensus.